News

Paymob Partners With Tamara For Seamless BNPL Payments

The partnership is designed to fuel the growth of small and medium-sized enterprises across the MENA region.

Published

9 months ago

January 9, 2024

Nour Nasir

Paymob

Leading MENA financial services enabler, Paymob has announced a new partnership with Tamara, the GCC region’s premier shopping and payments platform.

The strategic venture integrates Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure payment gateway, allowing customers to split payments without hidden fees or interest. Paymob’s infrastructure is already used by 250,000 merchants across the MENA region and Pakistan, while Tamara boasts over nine million registered users and 30,000+ merchants.

Although the two companies already have partnerships with some of the region’s best-known brands, the new agreement is designed to fuel the growth of small and medium-sized enterprises. With Tamara’s BNPL solution, merchants typically improve conversions by 15% and gain a 40% increase in average order value. In addition, the likelihood of a customer making repeat purchases climbs by 50%.

The integration of Tamara’s BNPL solution to Paymob’s eCommerce gateway works via a simple software upgrade. The service will initially roll out to merchants in the KSA and UAE in its first phase, with more countries added in future stages.

Islam Shawky, Co-founder and CEO of Paymob explained that “[the] partnership with Tamara delivers on Paymob’s mission to fuel SME growth in the digital economy. There is a massive opportunity to enable merchants in the GCC to capitalize on the power of alternative payment methods, and we are thrilled to partner with Tamara to fuel this growth in MENA”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Turki Bin Zarah, Co-founder and CCO of Tamara, added, “This partnership with Paymob provides seamless access to Tamara’s services to thousands of SMEs to enable their growth across the region. As a leading commerce enabler, we are revolutionizing how people shop, pay, and bank and are thrilled to partner with Paymob as we deliver on this goal”.

Tamara and Paymob are currently experiencing rapid growth after recent funding rounds. Riyadh-based Tamara secured a $150 million investment from Goldman Sachs, while Paymob’s growth has been driven by funding from PayPal Ventures.

News

Flowwow Reveals AI-Powered Rebrand, Blending Tech With Emotion

The new look includes a redesigned logo, AI-driven visuals, and upgraded packaging, reflecting aims for further expansion.

Published

13 hours ago

October 17, 2024

Nour Nasir

flowwow reveals ai-powered rebrand blending tech with emotion

Flowwow, a UAE-based gifting marketplace that partners with local shops in more than 30 countries, has introduced a refreshed brand identity, built by merging artificial intelligence with human creativity. The rebranding includes a redesigned logo, AI-driven visuals, and upgraded packaging, reflecting the company’s evolving position in the gifting sector.

Flowwow’s CEO and Co-founder, Slava Bogdan, explained: “From our roots as a flower delivery service, Flowwow has evolved into a marketplace for gifts and emotions in over 30 countries. [Our] strategic vision has become the cornerstone of our rebranding. Flowwow remains the platform that blends the best of both worlds: the personal touch of local entrepreneurs and the convenience of cutting-edge technology. We’ve redefined the gifting experience, making it effortless, enjoyable, and truly personal”.

flowwow rebrand design

The company has utilized AI to break away from conventional design limitations, resulting in a more dynamic and engaging brand presence. By leveraging Midjourney’s neural networks, Flowwow generated thousands of images to assist designers in ideating the new identity, accelerating the creative process by up to 20%.

As part of its rebranding, Flowwow aims to expand into a full-service global gifting platform, offering both innovation and convenience. Recognizing the potential of e-gifting in the MENA region, Flowwow is planning to onboard additional local vendors while expanding product lines to over 25 categories to suit regional preferences, including pastries, indoor plants, fragrances, hamper boxes, and home decor.

Also Read: Adobe Releases Firefly Generative AI Video Tools In Beta

The company is also committed to supporting local businesses, working with SMEs to drive economic growth in the MENA region’s burgeoning e-commerce sector. Research indicates that the UAE’s gifting market is expected to grow at a CAGR of 14.7% through 2029, while the overall e-commerce market will rise by 8.63% annually, reaching $10.56 billion by the same year.

Flowwow aims to capitalize on this growth by expanding further into the MENA region and further afield by 2024-2025.